Categories: Dividends

Occidental Petroleum’s $20 Billion Bet on a California Revival

Occidental Petroleum’s $20 Billion Bet on a California Revival (DividendChannel)

Oil and gas explorer, Occidental Petroleum (OXY), plans to separate its California-based, crude exploration assets in yet another move to return the state to the top of America’s energy production heap. Once on its own, this $20 billion exploration company will maintain a workforce of 8,000 employees and produce almost one-fifth of the state’s oil by focusing on the vast Monterey shale deposit. This area is the size of Delaware and boasts double the natural resources of Texas and North Dakota combined. Perhaps in anticipation of the profit ahead, OXY just increased its dividend to 72 cents a share – a 12 percent increase over the previous dividend yield. You may want to tap into this revenue stream now, so when OXY takes off in the coming year, you’re there to collect every drop of profit.

Eagle Eye Opener

Recent Posts

The Difference Between SPX and SPY – Options Trading

When looking to invest in the S&P 500, SPX and SPY options are similar assets…

3 days ago

Index Options – Explained and Simplified

An index option is a contract that gives the buyer the right, but not the…

4 days ago

The Most Hated Adage on Wall Street

“There’s more wisdom in your book than four years of college education!” -- Subscriber Back…

4 days ago

ETF Talk: Being Prepared for Anything with an Insurance ETF

There is a famous saying that has been floating around the internet regarding the “Five…

4 days ago

May Day, Reimagined

Today is May 1, a day that’s also known as “May Day” in many countries…

4 days ago

10 Reasons to Day-Trade with Mentors in a Virtual Room

Ten reasons to day-trade with mentors in a virtual room highlight why now is a…

5 days ago